Spherix Highlights Size of Multi-Billion Dollar Mobile Messaging Sector

NEW YORK, April 11, 2018 /PRNewswire/ -- Spherix Incorporated (NASDAQ: SPEX) a technology company committed to advancing innovation by participation in the development of new technology, today provided an update on the overall size and scope of the $3 billion mobile instant messaging market in which the company intends to operate following the proposed acquisition of DatChat Inc. (www.datchat.com) 

Mobile Messaging Market:
- Worldwide the Mobile Messaging space, which includes revenue from all forms of mobile messaging, including email, is estimated to exceed $60 billion dollars annually
- Worldwide Mobile Instant Messaging revenues, which is limited only to the Instant Messaging space, are estimated to be $3 billion annually
- Worldwide Instant Message user accounts are expected to grow to 3.8 billion by the end of 2019.
- 6 of the top 10 most used smart phone apps globally are messaging apps
- More than 6 billion text messages are sent in the U.S. each day
- Over 80% of American adults text, making it the most common cell phone activity
- The average Millennial exchanges an average of 67 text messages per day;

To participate in this large and growing market, DatChat's current monetization plans include "in app" purchases for premium features such as the transmission of videos and large group chats.  Other in app purchases may include the sale of digital stickers, which has generated a significant portion of "Line's" revenue.  DatChat is also working on an enterprise solution that could be marketed to companies and the long-term monetization strategy of expanding the platform to premium solutions for email.

"The Mobile Instant Messaging market is a multi-billion market that is growing rapidly," stated Mr. Anthony Hayes, CEO of Spherix, Inc.  "However, the market is still missing the vital privacy and security that DatChat offers its users.  As noted in the 2016 KPCB Report on Internet Trends, messaging is evolving from simple social conversations to business related conversations and that messaging apps are increasingly becoming a second home screen.  We believe this represents a growth opportunity for the Company.  Management is extremely pleased to be at the forefront of this booming marketplace and expects to establish itself as a leader within the industry for years to come." 

About Spherix
Spherix Incorporated was launched in 1967 as a scientific research company. Spherix is committed to advancing innovation by participation in the development of new technology. 

Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the SEC, not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

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SOURCE Spherix Incorporated